over 3 years ago

Housing prices skyrocketed across cities. in slotxo Asia Pacific this year This was driven by record low interest rates amid the pandemic.Optimism is also rising as vaccination rates rise sharply. And some countries are moving towards recovery after COVID.while companies Switch to a hybrid working model This can sometimes be a mix between working from home. and in the office at other times The demand for larger homes is also increasing. analyst said

Global warming in real estate markets in cities In Asia there is widespread expectation that governments will intervene through housing controls or other measures such as monetary or monetary policy.For example, South Korea raised interest rates for the first time in three years in August. Rising house prices and rising debt are seen by analysts.

rising property prices

Cities with the highest year-on-year price increases at the end of June According to real estate consulting firm Knight Frank On average Annual growth across Asia Pacific was 6.4% year over year. That's the highest increase in four years, according to Victoria Garrett, Knight Frank's head of Asia-Pacific Housing.Real estate analysts and agents say home buyers are fiercely competitive. This has led to bidding wars and overpriced cash offers.

Sean Coghlan, Global Director of Capital Markets Research and Strategy at JLL, said, “There are more prospective buyers than market opportunities. This creates a more intense auction process,” Coghlan said, adding that it has seen it in the residential real estate and logistics sectors. in a particular region More competition and funding targeted at real estate are coming together to drive prices higher,” he said.

housing market 'addicted to steroids'

A real estate agent in Singapore said of the Asian housing market: "addicted to steroids"Some buyers don't even look at homes. They made an offer after seeing the house from outside. Or just watch the home tour video,” Kenneth Tan of PropertyLimBrothers. The real estate agency said He added that for every 10 buyers, three are paid for the view.